The wheat complex posted Friday strength to close out the month. CBT soft red wheat futures were 8 to 10 cents in the green, as December was up 21 ½ cents this week. KC HRW futures were up 7 to 11 1/2 cents on Friday, with Dec up 23 cents. MPLS spring wheat futures were 2 to 3 cents higher in the front months, with Dec sipping 4 cents this week.
Dryness is expected in much of wheat country across the US in the next week.
European Commission raised their EU wheat production total by 0.8 MMT to 133.4 MMT. Ending stocks were left at 10.8 MMT. FranceAgriMer estimates the country’s winter wheat crop at 67% planted as of 10/27, up 11 percentage points from the week prior. A South Korean mill importer purchased 40,300 MT of Canadian wheat in their tender on Friday. The Argentina wheat crop is 8.4% harvested according to the Buenos Aires Grain Exchange.
Dec 25 CBOT Wheat closed at $5.34, up 9 3/4 cents,
Mar 26 CBOT Wheat closed at $5.48 1/2, up 8 cents,
Dec 25 KCBT Wheat closed at $5.24 1/2, up 11 1/2 cents,
Mar 26 KCBT Wheat closed at $5.36 3/4, up 7 3/4 cents,
Dec 25 MGEX Wheat closed at $5.53, up 2 1/2 cents,
Mar 26 MGEX Wheat closed at $5.73, up 2 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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